UCM Resita

Case status: Observation period

Industrial Compound Resita was founded on the 3rd of July 1771 by starting operating the first furnace and forging equipment and it is the oldest industry unit in Romania and one of the oldest in Europe. At the beginning of operations the factories were owned by the Austrian Fiscal Authority which managed trough the Banat mining operation.

The time of founding for the Resita factories place them in front of very well known ones like Krupp Germany (1811), Vitkovice (1829), Donavitz (1836), MAN (1834), Sulzer (1834) Burmeister Wain (1843), Skoda (1851).

If the start was dedicated to metallurgy the car assembly had developed steadily so that at the end of the 19th century this category was holding a major stake. UCM Resita, the heir of car assembly from Resita factories, is the result of many years of experience in car assembly, transportation, energy, metallurgic and chemical industry. During years the factory developed a special culture and gained awareness based upon tradition, competence and quality.

Resita factories succeeded in 233 years of continuous operations trough automated adaptation of the type and range of products.

In 2003 the company was privately taken over by INET AG and UCM Resita employees and got listed at Bucharest Stock Exchange.

The end of 2011 marked UCM Resita management decision of opening insolvency procedure in order to reorganize operations. Moreover the board of directors decided to develop a plan for 860 million lei debt due and the Court assigned EURO INSOL SPRL and VF Insolventa consortium as official receiver.